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Pemex CEO Questions Ratings Downgrade

Mar 18, 2019

The chief executive of Mexican state oil company Pemex on Monday questioned credit agency downgrades to the firm's debt, saying the same agencies had not acted when the company's investment and oil exploration activity diminished under past governments…

Woodside Invests in Cyber Security

Mar 18, 2019

Australia's largest independent oil and gas company said it has invested in a Western Australian company specializing in the protection and security of critical infrastructure.Woodside will take a 10% shareholding in Sapien Cyber, subject to satisfaction of conditions precedent…

Billions Spent, Little to Show

Mar 14, 2019

How Russia sank billions of dollars into Venezuela quicksandReuters estimates that after sinking more than $9 billion into Venezuela in loans, acquisitions and project spending since 2010, Rosneft, which is majority owned by the Russian state…

Orsted Seeks Ways to Avoid Brexit Tariffs

Mar 13, 2019

Denmark's Orsted is looking at ways to avoid potential tariffs on imports of components for its multi-billion pound British offshore wind farms in the event of a disorderly Brexit, the company's UK chief told Reuters.With only 16 days before Britain is due to leave the European Union…

Petrobras Prices $3 Bln in Bonds

Mar 13, 2019

Brazilian oil company Petroleo Brasileiro SA has priced global notes worth $3 billion due in 2029 and in 2049 as it seeks to repurchase shorter-term debt obligations, according to a securities filing late Tuesday.Petrobras, as the state-run company is known…

Petrobras Plans to Slash Opex by $8.1 Bln

Mar 11, 2019

Brazil's state-controlled oil company Petróleo Brasileiro SA, or Petrobras, announced plans to cut $8.1 billion from its operational costs in the period from 2019 through 2023, according to a securities filing released on Friday.Petrobras said…

U.S. Drillers Cut Rigs to Lowest Level since May

Mar 08, 2019

U.S. energy firms this week cut the number of oil rigs operating for a third week in a row to the lowest level in 10 months as independent producers follow through on plans to cut spending even though oil majors plan to spend more.Drillers cut nine oil rigs in the week to March 8…

Norway Fund to Sell E&P Firms

Mar 08, 2019

Norway's trillion-dollar sovereign wealth fund, the world's biggest, will sell its stakes in oil and gas explorers and producers but still invest in energy firms that have refineries and other downstream activities, according to a government plan…

Petronas Q4 Profit Skids 21%

Mar 08, 2019

Malaysian state oil firm Petronas said on Friday its fourth-quarter profit slid 21 percent as costs piled up, and warned it will have to chart a way through a volatile, challenging 2019 citing market uncertainties and geopolitical risks.Petronas…

Oil Edges Up

Mar 07, 2019

Oil prices edged higher on Wednesday, supported by OPEC-led supply cuts and U.S. sanctions against exporters Venezuela and Iran, but gains were capped by falling stock markets and renewed concerns over demand growth.Brent crude futures gained 26 cents…

Premier Oil Swings to $133 Mln Net Profit

Mar 07, 2019

Premier Oil swung to a net profit of $133.4 million in 2018 from a net loss of more than $250 million in the previous year, the British firm said on Thursday, adding it aimed to reduce its debt pile to potentially less than $2 billion by year-end…

Norway Production Costs Rising

Mar 07, 2019

Petroleum production costs on the Norwegian continental shelf rose in 2018 after falling for three consecutive years, state-owned oil firm Petoro said on Thursday.Cost cuts were high on oil firms' agenda following a sharp fall in crude prices in 2014…

U.S. LNG Exports Soar, Europe a Big Buyer

Mar 07, 2019

U.S. LNG to Europe may squeeze out smaller gas suppliers.Shipments of U.S. liquefied natural gas (LNG) have gathered pace in March and Europe is set to stay a top destination for spot cargoes with Asian prices still too low to ship the chilled fuel that far…

ExxonMobil Plans Big 2020 Capex Boost

Mar 06, 2019

Exxon Mobil Corp plans to boost capital spending for several years, CEO Darren Woods said on Wednesday, and the largest U.S. oil company's shares fell after he laid out a strategy to 'lean in' while the rest of the industry cuts back.Exxon shares fell more than 1…

S&P Downgrades Pemex

Mar 04, 2019

Ratings agency Standard & Poor's on Monday slashed the stand-alone credit profile of Petroleos Mexicanos (Pemex) to 'B-' from 'BB-', piling pressure on the Mexican government to tighten up the debt-laden state oil firm's finances.S&P cut Pemex's outlook to negative from stable…

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